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The AICPA provides tax practice tools to help members elevate their practices and maintain the highest ethical standards. In addition, the AICPA also advocates sound tax policy and effective tax administration.
The AICPA supports its members’ practices with the comprehensive and annually updated tax practice guides and checklists package; E-Alerts on current advocacy and practice developments; The Tax Adviser - the CPA profession's top magazine of tax planning trends and techniques; podcasts and webcasts; and other topical practice tools.
Resources are provided to help AICPA members maintain the highest professional standards in tax practice, including the Statements on Standards for Tax Services - the AICPA's enforceable tax ethical standards; links to other AICPA ethical resources; and information regarding external standards such as Department of the Treasury Circular No. 230.
The AICPA represents its members' interests in Washington by providing information on tax policy, and legislative and regulatory developments. The AICPA regularly submits comments, testimonies and other advocacy-related resources that improve the tax system while supporting both the public interest and its members' practices.

Spotlight


IRS Plans to phase in Congressional Mandate for Electronic Filing: In prepared comments at a recent presentation, David Williams, IRS director of electronic tax administration and refundable credits was quoted as stating that the IRS has decided to phase in the mandate over two years. "Next year, preparers who reasonably expect to file 100 or more returns will be subject to the mandate and then we'll lower that mandate to 11 in 2012”, said Williams. Proposed Regulations are anticipated to be released shortly and we will keep you informed of these new rules.

The latest news on the estate and gift tax is there is no news, only discussions and rumors. The facts are that Congress has so far this year failed to pass legislation that would reinstate the estate and gift tax nor give guidance to practitioners or taxpayers on the rules for 2010, nor have they addressed the issue of providing guidance for the law in effect that replaces the step up in basis rules with carryover basis rules for one year. Discussions on what to do about the estate tax continue to be blocked for reasons that are both political and substantive. The AICPA has repeatedly asked Congress to act immediately on the Federal Estate and Gift Tax pointing out the difficulties of the current situation. We have also pointed out to the officials at the Internal Revenue Service in our IRS business plan comments, the urgent need for guidance on carryover basis now. We will continue to shine light on this situation.

On May 28th, the House of Representatives voted on a package of extensions for many expiring provisions to be paid for with significant revenue raising provisions. The Senate was unable to come to an agreement on a proposal and appears to not to be willing to accept the proposal that was voted on by the House. The Senate leadership is hoping to consider a bill the week of June 14 but significant disagreements remain. To become law identical legislation must be approved in both the House and Senate before it goes to the President for his signature and it becomes law. Bottom line, we are a ways off from final action on any of these expiring provisions.

AICPA TV 

Washington Update Video-Cast

How will the IRS' new plans to regulate the tax return preparer community affect you? What's going to happen with the estate tax? Interested in an update on the section 7216 confidentiality rules? Is health care legislation possible? Tom Ochsenschlager, AICPA's VP- of Taxation, and Ed Karl, Director of the AICPA Tax Division, discuss these issues in video-casts that are the first in a series of releases that will help you keep up to date on important legislative and regulatory developments.

More on AICPA TV

Latest Tax Developments

 

Tax Strategy Patent Update

 


On June 28, 2010, the Supreme Court issued its decision on Bilski v. Kappos. While the case addresses a specific business methods patent case, it does not stop the U.S. Patent and Trademark Office from continuing to issue tax strategy patents.  Tax strategy patents remain a serious and growing problem for taxpayers and their advisers.  The Patent Office has issued 107 tax strategy patents and 145 patent applications are pending.  Taxpayers should not have to face the threat of royalties or lawsuits from holders of tax strategy patents. The AICPA will continue to work with Congress to make tax strategies ineligible for patents.  H.R. 2584, introduced by Rep. Boucher, would eliminate tax strategy patents and now has 45 cosponsors.  For more information, see our tax strategy patents resources page.

We will continue to keep you informed.

 

Tax Section and Tax Division Information

The Tax Section is comprised of approximately 24,000 AICPA members who want to receive additional information in the tax area, including tax practice guides and checklists, bi-weekly tax E-Alerts, premium Web site content and discounts on certain tax products. The Tax Section Strategic Plan provides information about the section’s objectives. Join the Tax Section to become part of the profession’s premiere tax organization.

 

The Tax Division provides tools and services in support of members' practices; promulgates and manages the Statements on Standards for Tax Services—the AICPA enforceable tax ethical standards; develops positions on tax policy; and submits comments on legislative and regulatory issues and developments. The Tax Division is comprised of 15 committees and technical resource panels (TRPs); numerous task forces; approximately 200 appointed members, and professional staff in Washington. You are encouraged to apply to serve on one of our committees or TRPs.

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